In this Present Value post, we’ve compiled a series of prior articles focused on real estate. ESI’s real estate practice marries academic-level rigor with real world experience to provide government and private sector clients with a wide range of analyses, advice, planning, and presentation.
Do Neighborhoods Spread?
Dr. Jonathan Tannen, Director | Originally Published June 10, 2016
Jonathan Tannen explores demographic changes in West Philly through his own experience growing up in the area, as well as technical aspects associated with gentrification. As part of his review, Dr. Tannen hones in on neighborhood boundary shifts and the implications for how we conceptualize gentrification.
Seven Ways to Solve Philly’s #ConstructionSoWhite Problem
Blane F. Stoddart, Senior Advisor | Originally Published February 28, 2020
Diversity and inclusion are highlighted in all aspects of today’s societal developments. In real estate and construction in the City of Philadelphia, it is also a key topic to understand and raise awareness about. According to Blane F. Stoddart, to fight the concept of #ConstructionSoWhite in Philadelphia adopting diversity as a way of doing business, encouraging more joint arrangements and partnerships between large and minority firms, and making a clear commitment to diversity is monumental.
The Economic Case for Fixing Blight
Caitlin Furio, Analyst and Dr. Richard Voith, Principal | Originally Published March 25, 2016
In 2016, an estimated $2.5 million in property damage resulted from roughly 10,000 abandoned properties in Baltimore. Problems such as overgrown yards, trash, and rising crime forced six neighborhood associations in Baltimore to join the city to fight back, suing the property owner of several dilapidated houses. In this article, Caitlin and Dr. Voith’s findings show that while each blight citation lowered nearby values by 0.4%, each abatement raised them by 0.5%, proving that restoring vacant properties can help neighborhood values recover.
The Economics of Reinvention
Catherine Timko, Senior Advisor | Originally Published June 8, 2018
Catherine Timko presents insights from her work with the Fort Monmouth Economic Revitalization Authority Plan, the local redevelopment authority authorized to manage the fort’s disposition and revitalization efforts. Fort Monmouth, the former military site was a key economic driver in Monmouth County for more than 90 years. The redevelopment plan integrates an extensive mix of land uses to help accelerate the creation of a diverse range of jobs and housing types to bring the site back to its full economic potential.
A New Opportunity for Office Conversions
Dr. David Stanek, Vice President | Originally Published March 31, 2023
COVID-19 has caused many ripples in real estate markets, with less demand for office space in central business districts and housing affordability being two driving forces that cities are still dealing with. Many have adopted or are considering policies to encourage office-to-residential conversion where feasible. In this article, Dr. Stanek highlights ESI’s work with the New York City Adaptive Reuse Task Force on this subject and things policymakers and real estate experts should consider when considering conversion.
Better Understanding NJEDA’s Aspire Program
Stephen Madsen, Associate Director | Originally Published June 9, 2023
Stephen describes the application process behind the New Jersey Economic Development Authority’s Aspire Program, a gap financing tax credit program that supports commercial, mixed use, and residential real estate development projects in the State of New Jersey. As part of his review, Stephen details ways ESI has supported clients in submitting and successfully being awarded grant funds.
Flavia Astete-Garcia, Business Development Intern
Flavia Astete-Garcia is a Business Development and Marketing Intern at ESI. She is currently a senior at Temple University studying Advertising and International Business.